Real estate Exam Indiana questions and answers
2026\2027 A+ Grade
Rosie, an Indiana broker, tells her buyer client, "That property is a steal at that price. I can guarantee
you'll make a profit when you resell." Has Rosie violated Indiana's professional standards of practice?
- correct answer Yes, it's unlawful for a licensee to guarantee future profits buyers may realize when
they re-sell a property they're considering purchasing.
In addition to guidelines and standards, what other information do policies and procedures manuals
contain?
- correct answer Best practices and core business processes
Which of these is a duty that licensees owe to their seller or landlord clients, according to the Indiana
Code?
- correct answer Fulfill the terms of your agency relationship.
An Indiana broker requests to be assigned to a managing broker of a referral company. Her license will
be put on ______ status, and she won't be allowed to actively work with real estate transactions.
- correct answer Referral
If a licensee from another jurisdiction desires an Indiana license, standard Indiana pre-licensing
education and exam requirements may be waived if the licensee declares knowledge of Indiana license
law and provides ______.
- correct answer Proof of licensure in the jurisdiction of residence
What does the Indiana Real Estate Commission have the right to do relative to brokerage records?
- correct answer Inspect them at any time.
The policies and procedures manual is designed to _______.
- correct answer Be a reference for all firm members
Aggie recently assisted her elderly aunt, Bev, in the sale of Bev's home. Aggie's real estate license
expired a few years ago, but she did accept a cash thank-you gift from Bev. Then Aggie's embittered ex-
, husband learned of the situation and filed a complaint against her with the Consumer Protection
Division, and Aggie received a cease-and-desist order from the attorney general. What's NOT true about
this situation?
- correct answer Aggie is prohibited from discussing the situation with her aunt Bev, since Bev was a
consumer involved in the unlicensed activity.
New Indiana licensees have their continuing education requirements waived for ______ while they
complete their post-licensing education.
- correct answer Two years
As an Indiana licensee, you're required to complete your duties as an agent according to ______.
- correct answer The Indiana Code
When done for others and for compensation, which of the following may be done by someone who
doesn't hold an Indiana real estate license?
- correct answer Researching school districts and crime statistics for various neighborhoods
Mandy's license is up for renewal. Which of these is NOT an action she'll take to renew her license?
- correct answer Pass the license renewal exam by scoring at least 70%
You're representing a seller who asks you to keep certain facts about the property to yourself, such as
the need for some foundation repairs. How does Indiana state law guide you in this situation?
- correct answer Disclosure of adverse material facts is a legal requirement, so this doesn't fall within
your duty of confidentiality to the seller.
By accepting and depositing earnest money funds, an Indiana broker is agreeing to do what?
- correct answer Abide by Indiana license law related to the handling of escrow funds.
USPAP requires appraisers to ______.
- correct answer Be competent to appraise the subject property
As a buyer's agent, writing a quality offer will help your clients _______.
- correct answer Avoid legal trouble
2026\2027 A+ Grade
Rosie, an Indiana broker, tells her buyer client, "That property is a steal at that price. I can guarantee
you'll make a profit when you resell." Has Rosie violated Indiana's professional standards of practice?
- correct answer Yes, it's unlawful for a licensee to guarantee future profits buyers may realize when
they re-sell a property they're considering purchasing.
In addition to guidelines and standards, what other information do policies and procedures manuals
contain?
- correct answer Best practices and core business processes
Which of these is a duty that licensees owe to their seller or landlord clients, according to the Indiana
Code?
- correct answer Fulfill the terms of your agency relationship.
An Indiana broker requests to be assigned to a managing broker of a referral company. Her license will
be put on ______ status, and she won't be allowed to actively work with real estate transactions.
- correct answer Referral
If a licensee from another jurisdiction desires an Indiana license, standard Indiana pre-licensing
education and exam requirements may be waived if the licensee declares knowledge of Indiana license
law and provides ______.
- correct answer Proof of licensure in the jurisdiction of residence
What does the Indiana Real Estate Commission have the right to do relative to brokerage records?
- correct answer Inspect them at any time.
The policies and procedures manual is designed to _______.
- correct answer Be a reference for all firm members
Aggie recently assisted her elderly aunt, Bev, in the sale of Bev's home. Aggie's real estate license
expired a few years ago, but she did accept a cash thank-you gift from Bev. Then Aggie's embittered ex-
, husband learned of the situation and filed a complaint against her with the Consumer Protection
Division, and Aggie received a cease-and-desist order from the attorney general. What's NOT true about
this situation?
- correct answer Aggie is prohibited from discussing the situation with her aunt Bev, since Bev was a
consumer involved in the unlicensed activity.
New Indiana licensees have their continuing education requirements waived for ______ while they
complete their post-licensing education.
- correct answer Two years
As an Indiana licensee, you're required to complete your duties as an agent according to ______.
- correct answer The Indiana Code
When done for others and for compensation, which of the following may be done by someone who
doesn't hold an Indiana real estate license?
- correct answer Researching school districts and crime statistics for various neighborhoods
Mandy's license is up for renewal. Which of these is NOT an action she'll take to renew her license?
- correct answer Pass the license renewal exam by scoring at least 70%
You're representing a seller who asks you to keep certain facts about the property to yourself, such as
the need for some foundation repairs. How does Indiana state law guide you in this situation?
- correct answer Disclosure of adverse material facts is a legal requirement, so this doesn't fall within
your duty of confidentiality to the seller.
By accepting and depositing earnest money funds, an Indiana broker is agreeing to do what?
- correct answer Abide by Indiana license law related to the handling of escrow funds.
USPAP requires appraisers to ______.
- correct answer Be competent to appraise the subject property
As a buyer's agent, writing a quality offer will help your clients _______.
- correct answer Avoid legal trouble
